Report: B2B brands shift focus from lead gen to brand awareness

B2B buyers have proritised trust and brand building, while their focus on demand generation and lead conversion has eroded this year compared to 2023. According to dentsu's, fourth annual Superpowers Index which interviewed 3,528 B2B buyers globally, and 6,539 B2B brand experiences across four industries, the top priority for buyers is feeling safe signing a contract. Buyers want it to be “easy to convince their colleagues on the brand’s credentials” and to be “reassured by the brand’s track record”. 

The report reveals that brand building has jumped from the fifth priority in 2023 to the top priority in 2024. In contrast, demand generation and lead conversion have fallen from fourth place to seventh.

Furthermore, the growing recognition of being “known as a good employer” serves as a proxy for a brand’s trustworthiness, highlighting the increasing significance of branding. The swift rise in the importance of thought leadership also indicates that buyers are seeking integrity to help them navigate uncertainties.

As AI accelerates disruption in every industry, buyers are understandably looking to brands that can demonstrate genuine expertise, with “Being seen as an active thought leader in my category” rising from 20th to third most important decision driver. However, only 26% of B2B buyers rate B2B brands' efforts in this regard highly. It’s a big opportunity for those brands that get it right to set themselves apart. 

In terms of buying decisions, the report finds that the average decision time has increased by 54 days since 2021. The estimated value to the world economy of these delayed B2B opportunities is approximately US$1.9 trillion. Meanwhile, the number of brands considered as part of B2B buying journeys is up 62% since 2021.

Despite the emphasis on personalisation in B2B, what buyers truly seek is relevance. Around 71% of B2B buyers and influencers wish business suppliers would invest more time in understanding their needs and how to address the daily challenges they encounter at work. This indicates that B2B buyers desire experiences tailored to their specific needs.

Moreover, the satisfaction levels throughout the B2B customer journey remain low. Only 41% of B2B buyers report positive experiences across different aspects of the purchase journey. These scores have not improved since their decline in 2023.

Yet, B2B brands are struggling to fully satisfy the desire for customisation. Only 39% of the, are highly satisfied with the brand they chose in terms of doing a good job for tailoring their offering to fit their needs. These scores have shown no improvement since 2022.

Recommendations for B2B Brands

Based on the results of the report, dentsu has identified three key trends that differentiate successful B2B brands from those that struggle.

First, the importance of branding in B2B has never been greater. Therefore, the brand-building capabilities that have weakened in recent years must now be revitalised.

Secondly, while experience shortens the sales cycle, hybrid digital-physical journeys that sustain impact from the very beginning are essential for accelerating revenue.

Lastly, with the rise of personalised, adaptive go-to-market strategies, creativity and storytelling are the keys to connect with buyers’ emotional drivers and stand out from the crowd.

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